What is the phrase when you need to purchase a piece of real estate “same like “?

jbauer5307: What is the phrase when you need to purchase a piece of real estate “same like “?
Otherwise you will be taxed on how much the first one has gained in value if you inherited it. Please give me a web I can use to read up on it

Thanks

Answers and Views:

Answer by cbc
You may be looking for the word … “Comperable”

Answer by Ed Atun
You are referring to a 1031 Exchange where you must replace the first property with a 2nd one which is of the same type. This is only available on “income” properties; not on your personal residence.
Originally if you sold a hotel, you had to buy the “same like” hotel. This was later expanded to include any investment property. You can sell a hotel and buy an office building.
Any of the major title companies will have 1031 information on their websites. www.firstam.com (i don’t work for them)..